TITLE 2. GOVERNMENT OF THE STATE OF CALIFORNIA 8000-22980›DIVISION 4. FISCAL AFFAIRS 16100-17700›PART 3. STATE BONDS 16650-16965.1›CHAPTER 8. The California Pension Restructuring Bond Act of 2004 16940-16960›ARTICLE 2. Issuance of Bonds to Finance the Program 16945-16954
§ 16953
California Government Code · 2018-11 edition · updated 2026-10-04 · California
The committee may provide for the issuance of bonds any portion of which is to be used for the purpose of refunding outstanding bonds issued to fund or refund pension obligations, including the payment of the principal thereof and interest and redemption premiums, if any. The proceeds of bonds issued to refund any outstanding bonds may be applied to the retirement of those outstanding bonds at maturity, or the redemption, on any redemption date, or purchase of those outstanding bonds prior to maturity, subject to the terms and conditions as the committee deems advisable.
(Added by Stats. 2004, Ch. 215, Sec. 4. Effective August 11, 2004.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code